Wednesday, 30 November 2016

Juniper Glass Announces Ethiopian Merger and Regulatory Approvals

Juniper Glass on Wednesday announced that it has received all regulatory approvals necessary to conclude the final investments in its US$70 million greenfield container glass factory in Debre Birhan, Ethiopia.

Juniper is working closely with leading global glass engineers and equipment suppliers to build a state-of-the-art factory, which will use the latest available technology in glass manufacturing. The new factory, which is under construction, will have the capacity to produce 60,000 tonnes of glass annually, approximately 200 million glass bottles. Juniper has agreed with most major bottlers in Ethiopia to allocate the majority of this capacity to replace imports.

The consortium behind Juniper includes Consol Glass, the largest glass packaging company in Sub-Saharan Africa, with manufacturing facilities in South Africa, Nigeria, and Kenya. Consol Glass is a recognised leader in glass packaging manufacturing and with their expertise and support Juniper will be able to supply container glass to highest quality standards.

"Ethiopia provides a dynamic environment for Africa's industrial growth," said CEO of Consol Glass, Mike Arnold, "and the Ethiopian market is gaining momentum. We have been evaluating opportunities in Ethiopia for a number of years and are excited about our partnership with Juniper and Roha", the Africa-focussed greenfield investment company.

Commenting on the deal, CEO of Juniper, Brooks Washington, said, "Our partnership with Consol, together with the support from the Development Bank of Ethiopia, will help us to realise our mission and meet the growing demand for high-quality glass bottles. Perhaps more significantly, it will contribute to Ethiopia's economic development by innovating, building human capacity and leveraging technology.",

Earlier, the Development Bank of Ethiopia announced it had approved a loan of ETB 565 million (approximately US$25 million) for the project, which was developed by Roha. With final investment approval from Ethiopia's Trade Competition and Consumer Protection Agency, Juniper is fully-funded and will start operating as soon as the factory is completed.

"We are grateful for the support of the various government entities who have played a role in getting us to where we are, including the Debre Birhan Municipality, Amhara National Regional State, and Federal agencies," Washington added.

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